Royce & Associates LP Invests $2.49 Million in indie Semiconductor, Inc. (NASDAQ:INDI)

Royce & Associates LP bought a new stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 615,000 shares of the company’s stock, valued at approximately $2,491,000. Royce & Associates LP owned approximately 0.30% of indie Semiconductor at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in indie Semiconductor during the third quarter worth $58,000. Daiwa Securities Group Inc. increased its stake in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock worth $60,000 after purchasing an additional 6,363 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of indie Semiconductor during the 4th quarter worth about $74,000. Legato Capital Management LLC lifted its stake in indie Semiconductor by 47.9% in the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company’s stock valued at $82,000 after buying an additional 6,570 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in indie Semiconductor by 41.5% in the 4th quarter. M&T Bank Corp now owns 28,348 shares of the company’s stock worth $115,000 after buying an additional 8,308 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the transaction, the chief executive officer now directly owns 246,535 shares in the company, valued at $714,951.50. The trade was a 21.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the sale, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at approximately $118,326. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,789 shares of company stock valued at $532,037 in the last three months. 8.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. KeyCorp reduced their target price on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Benchmark dropped their price target on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, UBS Group assumed coverage on indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, indie Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $7.50.

indie Semiconductor Trading Down 4.7 %

INDI opened at $2.22 on Friday. The firm has a market capitalization of $448.25 million, a price-to-earnings ratio of -2.92 and a beta of 1.54. The company’s 50 day simple moving average is $3.58 and its two-hundred day simple moving average is $3.89. indie Semiconductor, Inc. has a 1-year low of $2.17 and a 1-year high of $7.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. Analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.